Sequoia Financial Advisors LLC Increases Holdings in Zscaler, Inc. (NASDAQ:ZS)

Sequoia Financial Advisors LLC increased its holdings in shares of Zscaler, Inc. (NASDAQ:ZS) by 7.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 48,775 shares of the company’s stock after purchasing an additional 3,191 shares during the period. Sequoia Financial Advisors LLC’s holdings in Zscaler were worth $8,799,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in ZS. Fred Alger Management LLC lifted its holdings in Zscaler by 1,151.0% in the 3rd quarter. Fred Alger Management LLC now owns 10,371 shares of the company’s stock worth $1,773,000 after buying an additional 9,542 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in Zscaler by 11.0% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 380,463 shares of the company’s stock worth $65,036,000 after buying an additional 37,801 shares in the last quarter. Zweig DiMenna Associates LLC lifted its holdings in Zscaler by 29.8% in the 4th quarter. Zweig DiMenna Associates LLC now owns 77,941 shares of the company’s stock worth $14,061,000 after buying an additional 17,900 shares in the last quarter. Baader Bank Aktiengesellschaft lifted its holdings in Zscaler by 30.3% in the 4th quarter. Baader Bank Aktiengesellschaft now owns 8,400 shares of the company’s stock worth $1,515,000 after buying an additional 1,952 shares in the last quarter. Finally, Benjamin Edwards Inc. acquired a new position in Zscaler in the 3rd quarter worth $449,000. 46.45% of the stock is owned by hedge funds and other institutional investors.

Zscaler Trading Down 0.8 %

NASDAQ ZS opened at $197.79 on Thursday. Zscaler, Inc. has a 52 week low of $153.45 and a 52 week high of $217.84. The stock has a market cap of $30.35 billion, a price-to-earnings ratio of -791.16 and a beta of 0.88. The company has a 50-day moving average price of $197.74 and a two-hundred day moving average price of $191.66.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ZS. Jefferies Financial Group boosted their price objective on shares of Zscaler from $225.00 to $245.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Oppenheimer boosted their price objective on shares of Zscaler from $230.00 to $250.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. Wells Fargo & Company boosted their price objective on shares of Zscaler from $190.00 to $210.00 and gave the stock an “equal weight” rating in a report on Thursday, March 6th. Barclays restated an “overweight” rating on shares of Zscaler in a research note on Wednesday, March 5th. Finally, JPMorgan Chase & Co. upped their target price on shares of Zscaler from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Thursday, March 6th. Nine equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $233.88.

Insiders Place Their Bets

In other news, insider Syam Nair sold 3,682 shares of the stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total value of $737,578.24. Following the completion of the transaction, the insider now directly owns 142,866 shares in the company, valued at $28,618,917.12. This trade represents a 2.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Remo Canessa sold 3,703 shares of the stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total transaction of $741,784.96. Following the completion of the transaction, the chief financial officer now owns 220,635 shares of the company’s stock, valued at $44,197,603.20. This trade represents a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,248 shares of company stock worth $2,052,879. Insiders own 18.10% of the company’s stock.

Zscaler Profile

Zscaler, Inc operates as a cloud security company worldwide. The company offers Zscaler Internet Access solution that provides users, workloads, IoT, and OT devices secure access to externally managed applications, including software-as-a-service (SaaS) applications and internet destinations; and Zscaler Private Access solution, which is designed to provide access to managed applications hosted internally in data centers, and private or public clouds.